Chile weathered the Great Recession fairly well, exhibiting only one year of recession, and average growth of 5.3% for the 2010-13 period. However, GDP growth stumbled to 1.6% in 2014, and we do not expect to see growth reach 4% p.a. again. Over the long-term, growth will remain focused on investment and exports. We expect a long-term CAGR of 2.8% over the 2015-2035 period, and Chile's economy will have to restructure in order to attain these levels of economic growth.